Ethereum's ecosystem TVL of ~$370B is a small share of tokenizable TradFi assets. BlackRock currently manages ~$13.5T, yet has ~$2.85B onchain (~0.02%). Eco TVL has formed a floor for ETH during downturns. If institutions follow through and this holds, ETH stands to rerate.

🆕📊 Institutional stablecoins are gaining momentum on Solana. Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase the latest product updates. Read on for the latest edition, authored by frederick 👇

.PayPal's PYUSD & Global Dollar Network 🌎's USDG are growing fast on Solana. Despite rapid growth, < 50K Solana addresses hold either stablecoin. If these institutions leverage their reach more aggressively, Solana could emerge as a chain for retail payments.

Beyond Dollar Stablecoins: Three Emerging Categories of Tokenized Assets Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase the latest product updates. Read on for the latest edition, authored by frederick 👇

⚖️⏳ A new era for DeFi tokens? Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase our latest product updates. Read on for the latest edition, authored by frederick 👇

🆕✍️ frederick joined Token Terminal as a research analyst one month ago. We're looking to bring onboard 2-3 new research analysts over the coming weeks. How to apply: build similar (better!) dashboards in Studio & share with us. A thread on Frederick's output so far. 🧵👇

🆕🗞️ Ripple's RLUSD surpasses $1B market cap. Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase our latest product updates. Read on for the latest edition, authored by frederick 👇

Make or break moment for the 'ETH floor = ecosystem TVL' thesis 👀

How Centrifuge tokenized $1.3 billion in 2025 Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase our latest product updates. Read on for the latest edition, authored by frederick 👇

Circle’s second act is already here Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase our latest product updates. Read on for the latest edition, authored by frederick 👇

At a ~$300B market cap & growing, stablecoins become a question of national economic interest. Issuers like export USD to new markets (distribution), and the GENIUS Act turns issuers into structural U.S. T-bill buyers (financing). 🇺🇸 seems all-in. Will 🇪🇺 follow?

JUST IN: The Year in Charts 📊 | ON-383 💵 #stablecoins | RWA.xyz | Minerva 🌍 #RWAs | Token Terminal 📊 | frederick ♾️#perps | Chaos Labs 🔮 #prediction #markets | Diego 'Til 2026! Link to read ⏬ ournetwork.xyz/p/on-383-the-y…

Tokenized stocks grew 2,695% YTD, more than any other category of tokenized assets in 2025… ➡️ Stocks +2,695% ➡️ Commodities +225% ➡️ Funds +148% ➡️ Stablecoins +49%. Check out the section on #RWAs in our latest issue from frederick: ournetwork.xyz/p/on-383-the-y… Data via

In 2025, the RWA market expanded beyond stablecoins as tokenized funds, commodities, and stocks reached a combined market cap exceeding $16B. As RWAs migrate onchain, public blockchains transition from speculative environments to global-scale settlement layers 🌎

Does Ethereum have a stablecoin moat? Each week in The Snapshot, we share data-driven insights, highlight new listings, and showcase our latest product updates. Read on for the latest edition, authored by frederick 👇